Happy Weekend Traders & Investors
1:
Starting with the key resistace line for the current range, coming from the May 12th low which is also in alignment with the 100 Day SMA (green moving average in the picture below👇)
A close and confirmation above this range (25.000$ - 25.300$) would indicate further upside towards the next price target, of 28.500, which comes from the support of the previous range.
2:
The green rectangular box represents the area that Bitcoin has failed to close daily candles in or above since July 20th.
A daily candle close within or above that area would also strongly suggest further upside towards the previously mentioned price range around 28.500$
3:
The key support level for Bitcoin that must hold to stay in the current uptrend. Also in alignment with horizontal support coming from the previous daily lows on a closing basis.
Here below you can also see that this price range of approx. 23.000$ - 23.200$ is strongly supported by the .382 Fib. level on the retracement coming from the last major dump (jun 6th - june 18th)
4:
The support of the ascendingchannel which has been forming since mid June. A key support level right around 20.000$, which Bitcoin must stay above to stay short-term bullish.
5:
The Line in the sand for the range on a daily closing basis lays right around 18.950$.
In the picture below you an also see the .786 Fibonacci level which is the line in the sand of the uptrend retracement of the current entire range from the june 18th bottom to the August 11th top.
A close below would suggest the loss of the range and that Bitcoin is on it's way to new lows.
I would like to add that this is only for educational purpose and in no way a guarantee that it will play out this way, nor is this or are any of my posts financial advise.
As always, A BIG THANK YOU for stopping by, I hope you liked my post! If you did, please take a second to drop a like or comment, every engagement puts a smile on my face, but also helps me to get my ideas out to many more of you guys!
Happy Trading ✌🧡📈
1:
Starting with the key resistace line for the current range, coming from the May 12th low which is also in alignment with the 100 Day SMA (green moving average in the picture below👇)
2:
The green rectangular box represents the area that Bitcoin has failed to close daily candles in or above since July 20th.
A daily candle close within or above that area would also strongly suggest further upside towards the previously mentioned price range around 28.500$
3:
The key support level for Bitcoin that must hold to stay in the current uptrend. Also in alignment with horizontal support coming from the previous daily lows on a closing basis.
Here below you can also see that this price range of approx. 23.000$ - 23.200$ is strongly supported by the .382 Fib. level on the retracement coming from the last major dump (jun 6th - june 18th)
4:
The support of the ascendingchannel which has been forming since mid June. A key support level right around 20.000$, which Bitcoin must stay above to stay short-term bullish.
5:
The Line in the sand for the range on a daily closing basis lays right around 18.950$.
In the picture below you an also see the .786 Fibonacci level which is the line in the sand of the uptrend retracement of the current entire range from the june 18th bottom to the August 11th top.
I would like to add that this is only for educational purpose and in no way a guarantee that it will play out this way, nor is this or are any of my posts financial advise.
As always, A BIG THANK YOU for stopping by, I hope you liked my post! If you did, please take a second to drop a like or comment, every engagement puts a smile on my face, but also helps me to get my ideas out to many more of you guys!
Happy Trading ✌🧡📈
